Nifty Futures Intraday Trading Report May 09, 2011

Initially i shorted the contract at about 5566. It fell down to 5510 levels – I could have covered then; but I did not. I waited for the contract to fall even further. But the inevitable occurred and I had to square off that trade at 5545.

Once again, I entered the market – this time I was long a 5566. Within a few minutes, I was trading wrongly and before hell could lose break, I squared off my position at 5580.

For the third time I shorted the contracted at 5577. The trade was squared off in between 5550 and 5560.

The day was highly erratic with the contract trying to satisfy the natural laws of supply / demand and the bullish cartel that was trying to take the contract to even higher levels. Despite the market making several attempts to move to its desired mean, this group was able to catapult the prices to unforeseen heights. This led me to take numerous trades today.

Hi, seems like it’s a nice blog. So let us also add something useful in it. Trading in volatile market can be very fruitful also if we follow technical levels closely. It’s a common saying that stock market can change fortune in either way. But now the question is how to earn money from the Indian stock market. Traders are advised to strictly follow technical analyses and investors can follow fundamental analysis. Many analysts say it’s not wise to follow technical and fundamental analysis together. But we say what the problem is if one does so? As more knowledge will add up things will not have any negative impact.